Cement News tagged under: corporate
Mixed 1HFY17 results for Pakistani cement producers16 February 2017, Published under Cement NewsThe latest series of business results of Pakistani cement producers show a mixed performance during the first half of the 2017 financial year. DG Khan Cement Company DG Khan Cement Company Ltd (DGKC) has announced its 1HFY17 financial result. It reported a profit after tax (PAT) of PKR4.506bn (US$42.9m) during 1HFY17 against a PAT of PKR4.080bn during 1HFY16, up 10 per cent, YoY. In line with trends, DGKC did not declare any dividend along with its 1HFY17 results. The company's... |
India: NTPC seeks partnership for new plant16 February 2017, Published under Cement NewsNTPC Ltd, India’s largest energy conglomerate, plans to expand its business interests into the cement industry, with a view to manufacture cement using fly ash from its power stations and create captive demand for electricity. The state-run company is inviting expression of interest (EOI) from cement makers, offering partnership in the building of the proposed cement plants in the vicinity of its power stations, according to the Times of India. NTPC intends to build plants with a capac... |
Eurocement signs LoI for Uzbek cement plant16 February 2017, Published under Cement NewsRussia’s Eurocement and Uzbekistan’s Uzqurilishmateriallari have signed a letter of intent (LoI) to build a cement plant in Uzbekistan. The new 2.4Mta works is expected to raise Eurocement’s production capacity in the country to 4.2Mta by 2020, according to Eurocement President Mikhail Skorokhod. “Besides construction of the cement plant, we are also discussing projects to upgrade the line for production of magnesia bricks and innovative construction materials, which will be sold not o... |
India: Prism results point to mild demonetisation impact16 February 2017, Published under Cement NewsPrism Cement has released its trading statement for the three months to December 2016, revealing that cement sales volumes have only been slightly harmed by the impact of demonetisation. The firm sold 1.20Mt of cement between September and December, compared with 1.22Mt in the same period the previous year. Revenues for Prism’s cement were even less affected, declining by just 0.8 per cent as the firm successfully reduced costs, particularly for logistics and power. In a forward-lookin... |
Qatar: QNCC invites BoD applications16 February 2017, Published under Cement NewsThe Board of Directors of Qatar National Cement Company (QNCC) is welcoming applications from its shareholders to apply for nomination of the Board of Directors as representatives of the private sector for next three years (2017-19). Applicants must: be aged 21 or over, own a minimum of 20,000 shares, not be a member in more than three company boards in Qatar, not be convicted of any crimes mentioned in Article (334) and Article (335) of the QCCL No 11/2015. The candidates should posse... |
USA: Martin Marietta 4Q16 and full-year results15 February 2017, Published under Cement NewsFor the 4Q16 Martin Marietta achieved net sales of US$889m compared with US$780.8m in the 4Q15. EBITDA was US$229.7m compared with US$204.4m in 4Q15. For the full year, net sales were US$3.58bn, compared with US$3.27bn in 2015. EBITDA was US$971.6m, compared with US$750.7m. Chairman, President and CEO of Martin Marietta, Ward Nye, said: "Every business across our enterprise continues to make meaningful contributions to the Company's enhanced profitability. The Southeast Group and the We... |
South Korea: Hyundai Cement sale bids15 February 2017, Published under Cement NewsSix contenders have submitted a bid for Hyundai Cement Company. Ssangyong Cement Industrial Co, Halla Cement Corp, IMM Private Equity, LK Investment Partners, Hyundai Sungwoo Holdings Co and PineStreet Group have each submitted terms to acquire a 84.56 per cent stake in Hyundai Cement offered by creditors. Ssangyong Cement Industrial and Halla Cement are expected to lead the buyout, as reported by Pulse News. Owned by private equity funds, the two cement makers have production bases locat... |
UAE: Sharjah Cement sees 20% fall in 4Q profits15 February 2017, Published under Cement NewsSharjah Cement and Industrial Development Co reported a 20 per cent YoY decrease in profits for 4Q16. Profits declined from AED24.52m (US$6.68m) in 4Q15 to AED1958m in 4Q16. Net profit for 2016 amounted to AED60m, 3.2 per cent down from AED62m in 2015, according to a bourse filing. Revenues decreased in 2016 to AED612m from AED639m for 2015. |
Peru: Cementos Pacasmayo sees 13% drop in sales in 4Q1615 February 2017, Published under Cement NewsPeru's Cementos Pacasmayo saw its cement, concrete and blocks sales decline by 12.7 per cent YoY in 4Q16. However, there was extraordinary spending associated with El Niño prevention in the quarter. Compared to 3Q16 sales volumes increased. Revenues decreased 9.8 per cent YoY to PEN316.7m (US$97.2m) while consolidated EBITDA fell 20.4 per cent YoY to PEN88.8m. The fall in EBITDA has been attributed by higher fixed costs, resulting from the lower sales volumes, as well as one-off expenses ... |
David P Steiner newest Vulcan board member15 February 2017, Published under Cement NewsVulcan Materials Co elected David P Steiner to its board of directors with immediate effect. Last November, Mr Steiner resigned as CEO of Waste Management. He currently served on the board of directors of FedEx Corp. "We are extremely pleased to welcome David to the Board. He brings to Vulcan a wealth of expertise in business operations, land management, transportation and logistics, financial management and strategic planning," Vulcan Chairman and CEO, J Thomas Hill, said in a statem... |